Mortgage Strategy
Online - May 2011
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BSA blasts claims management companies over PPI
5 May 2011
Peter Griffiths, incoming chairman of the Building Societies Association, has blasted claims management companies over Payment Protection Insurance claims.
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Largemortgageloans makes new appointments
16 May 2011
Largemortgageloans.com has appointed a new head of sales and a new head of sales and marketing.
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11 firms apply for lending authorisation in one year
16 May 2011
Eleven firms have applied to the Financial Services Authority for authorisation to carry out mortgage lending in the past 12 months, with Portillion confirming it has made an application in the last few weeks.
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3mc teams up with Promise Solutions
31 May 2011
Mortgage club and packager 3mc has teamed up with Promise Solutions to offer mortgage brokers access to Promise’s secured loans, using its point-of-sale technology.
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65% of DAs believe advice fees becoming more important
9 May 2011
The majority of directly authorised brokers believe there has been a shift in the reward structure, with fees for advice becoming more important, The Mortgage Alliance’s April Distribution Indicator reveals.
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84% of FTBs rely on parental support
27 May 2011
84% of first-time buyers rely on financial support from their parents in order to purchase their first home, according to research from Clydesdale and Yorkshire Banks.
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A third of Britons predict summer rate hike
3 May 2011
Almost a third (32%) of consumers predict the Bank of England base rate will increase this summer, research from Lloyds TSB shows.
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Abbey appoints new managing director
9 May 2011
Abbey for Intermediaries has appointed Miguel Sard as its new managing director, replacing Alan Mathewson, who continues to assume interim management responsibility for Santander’s branch network.
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Abbey increases LTV on larger loans and launches new deals
27 May 2011
Abbey for Intermediaries has increased the maximum LTV on its range of larger loan products from 60% to 70% LTV and launched a number of new deals and rate reductions.
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Abbey launches 85% LTV deal and cuts rates
6 May 2011
Abbey for Intermediaries has launched a five-year fixed rate mortgage at 5.69% that is available up to 85% LTV.
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Abbey launches deals up to 90% LTV
12 May 2011
Abbey for Intermediaries is launching three new mortgage products and reducing rates by up to 0.10% across a selection of its fixed rate deals.
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Abbey launches key account exclusive and reduces rates
20 May 2011
Abbey for Intermediaries has launched a key account exclusive two-year fixed rate at 3.19 per cent, with a £945 fee up to 60% LTV.
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Accord cuts fixed rates
11 May 2011
Accord Mortgages is launching a new range of fixed rate mortgage deals tomorrow, cutting 0.20% from fixed rates up to 75% LTV and 0.25% for products available up to 85% LTV.
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Accord cuts rates on 85% LTV mortgage range
24 May 2011
Accord Mortgages is reducing rates on its 85% LTV mortgage range by up to 0.15%, following cuts of up to 0.20% last week.
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Aldermore increases maximum loan size to £1m
11 May 2011
Aldermore has increased its maximum loan size from £600,000 to £1m on all residential mortgage deals up to 75% LTV.
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Appointment hearing for new MPC member
13 May 2011
The Treasury Committee is to hold a pre-appointment hearing for new Monetary Policy Committee member Dr Ben Broadbent, formerly of Goldman Sachs.
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Assurant Intermediary secures 40% share of PTFS panel
10 May 2011
Assurant Intermediary has reported that it has secured approximately 40% share of the Personal Touch Financial Services buildings and contents panel in the year since its appointment.
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Average 90% LTV mortgage rate falls below 6.00%
9 May 2011
The average rate for a 90% LTV mortgage has fallen below 6.00% for the first time since March 2008, research from Moneyfacts.co.uk shows.
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Average B2L loan size up 5% in Q1 2011
3 May 2011
The average loan size and loan-to-value offered on buy-to-let mortgages increased in Q1 2011, according to TBMC’s Landlord Profile Tracking Index.
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Average FTB spends 3.3 years saving for a deposit
3 May 2011
The average first-time buyer expects to spend 3.3 years saving for a deposit for their first home, research from Santander Mortgages reveals.
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Average LTV reaches three-year high
13 May 2011
The average loan-to-value ratio offered on mortgages reached a three-year high of 61% in April, e.surv’s Mortgage Monitor shows.
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Bank holidays blamed for drop in house sales in April
3 May 2011
House sales fell by 3.6% in April compared to March, according to the latest Agency Express Property Activity Index.
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Banks’ gross mortgage lending stable in April
25 May 2011
Gross mortgage lending by high street banks was £7.9bn in April, up marginally on March’s figure of £7.8bn and unchanged on the previous six month average, according to data from the British Bankers’ Association.
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Barclays cuts mortgage rates
18 May 2011
Barclays has reduced rates by up to 0.19% on its Woolwich range of mortgages in response to falling swap rates.
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Barclays revamps mortgage range and lowers fees
4 May 2011
Barclays is introducing a number of new mortgage deals tomorrow and lowering the fees on a number of its deals.
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Barclays sets aside £1bn for PPI claims
9 May 2011
Barclays has revealed today that it will not appeal the High Court’s ruling on payment protection insurance and has set aside £1bn for customer redress.
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Barclays slashes rate on 90% LTV deal by 1.20%
24 May 2011
Barclays has cut the rate on its 90% LTV Bovis Homes mortgage deal by 1.20%.
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BM Solutions reduces fixed rates
13 May 2011
BM Solutions will be reducing the rates on its buy-to-let fixed product range by 0.20% and extending end dates tomorrow.
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Borro adds dates to seminar programme
4 May 2011
Borro has added further dates to its seminar programme following its first event in London.
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Bovis looking to launch 95% LTV mortgage
11 May 2011
Bovis Homes Group says it is in discussions with lenders about the possibility of launching a 95% LTV mortgage.
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Bridgewater launches sales aid for advisers
9 May 2011
Bridgewater Equity Release is launching a sales aid for advisers outlining the reasons why one of its home reversion plans may be a suitable form of equity release for a client.
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Bright Grey alters definitions for critical illness cover
23 May 2011
Bright Grey has made changes to its critical illness cover by introducing seven new definitions, which will be implemented today.
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Brightstar teams up with Saffron Building Society
9 May 2011
Brightstar Financial has launched an exclusive buy-to-let deal with Saffron Building Society.
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Brilliant Solutions adds Portal Portfolio to lender panel
9 May 2011
Brilliant Solutions has added secured loan provider Portal Portfolio to its lender panel.
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Brilliant Solutions adds Precise to lender panel
19 May 2011
Brilliant Solutions Mortgage Club has added Precise Mortgages to its lending panel.
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Brokers accounted for 63% of FTB mortgages in Q1
31 May 2011
Brokers accounted for 63% of first-time buyer mortgages, 60% of remortgage loans and 53% of home mover loans in Q1 2011, the latest figures from the Council of Mortgage Lenders show.
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BSA elects new chairman
5 May 2011
The Building Societies Association has elected Peter Griffiths, chief executive of Principality Building Society, as its chairman for 2011/12.
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Buy-to-let borrowers at greater risk of negative equity
10 May 2011
Even mild declines in house prices over the next two years could place over 30% of buy-to-let borrowers in negative equity, Standard & Poor’s has warned.
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Buy-to-let lending falls in Q1 2011
12 May 2011
Gross buy-to-let mortgage lending fell by 3.5% in Q1 2011 compared to Q4 2010, according to figures from the Council of Mortgage Lenders.
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Buy-to-let mortgage availability up 55%
10 May 2011
The number of available buy-to-let mortgage products increased by 54.8% year-on-year in May, research from Moneyfacts.co.uk shows.
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Cambridge BS offers remortgage deal exclusively via brokers
16 May 2011
Cambridge Building Society is launching a remortgage product with reduced fees that is available exclusively via intermediaries and for borrowers in East Anglia.
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Chelsea BS launches five-year fixes from 3.99%
16 May 2011
Chelsea Building Society has launched two five-year fixed rate mortgage products which it claims are among the best deals on the market.
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Cheval appoints two BDMs
16 May 2011
Bridging specialist Cheval has appointed Neil Molyneux and Gordon Rae as business development managers within its sales team.
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Cheval considers legal action over valuations
9 May 2011
Cheval Bridging Finance is planning to take legal action against surveyors over alleged negligent valuations, its 2010 accounts reveal.
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Citri in limbo as AR deal with Openwork collapses
23 May 2011
The future of Citri is in doubt after a deal to transfer its 138 advisers to Openwork has fallen through.
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CML in talks with builders over increasing new-build LTVs
19 May 2011
The Council of Mortgage Lenders is in discussions with house builders over hiking the maximum LTVs on new build properties.
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CML predicts end of lenders’ open conveyancer panels
12 May 2011
Lenders will no longer have open panels for conveyancers, according to Michael Coogan, director-general of the Council of Mortgage Lenders.
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CML pushing for lenders to be able to offer advised sales
19 May 2011
The Council of Mortgage Lenders says it is confident it can overturn the proposal in the European mortgage directive that means lenders will not be able to offer advised sales.
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Compliance not up to scratch at mutuals, says FSA
4 May 2011
Compliance is not up to scratch at some building societies, says Sheila Nicoll, director of conduct policy at the Financial Services Authority.
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Connect Overseas launches mortgages for Italian property
17 May 2011
Connect Overseas has launched a range of mortgages for intermediaries with clients looking to buy property in Italy.
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Conveyancing Association welcomes CML focus on fraud
6 May 2011
The Conveyancing Association has welcomed the Council of Mortgage Lenders’ focus on tackling mortgage fraud and conveyancer negligence in its annual report.
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Co-op Bank and Britannia launch 85% LTV deal
13 May 2011
The Co-operative Bank and Britannia have launched a two-year fixed rate mortgage product available up to 85% LTV and reduced rates by up to 0.40% on other mortgage deals.
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CoreLogic appoints managing director
27 May 2011
CoreLogic has announced the appointment of Peter Stimson as managing director for the firm’s UK operations.
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Countrywide launches advisory service for new homes
10 May 2011
Countrywide has launched a specialist financial advisory service for the new homes sector.
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Coventry cuts rates on BTL range
11 May 2011
Coventry Intermediaries is slashing prices on it’s buy-to-let range, reducing two-year fixed rate deals and launching two base rate trackers.
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CUNA Mutual Group launches life cover with LV=
6 May 2011
CUNA Mutual Group has linked up with LV= to distribute its term life assurance to building societies.
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Dale Jannels takes the helm at AToM
9 May 2011
Dale Jannels, currently sales and marketing director at All Types of Mortgages, has been appointed as managing director and will take over responsibility for the performance of the firm.
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Demand for housing falls in May
30 May 2011
Demand for housing fell for the first time in three months in May, with the number of new buyers registering with agents declining by 0.5%, according to Hometrack’s Monthly National Housing Survey.
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Director guilty in £1.3m property fraud
24 May 2011
A commercial property developer from Lancashire has been convicted at Preston Crown Court of defrauding seven investors in deals exceeding £1.3m.
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EC directive could extend to LTV caps
4 May 2011
The scope of European mortgage regulation could extend to LTV caps, the European Mortgage Federation says.
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EC directive may not achieve its aims, says EMF
3 May 2011
The European Commission’s mortgage directive may not achieve all it set out to, according to Sarah Kieran, head of legal affairs at the European Mortgage Federation.
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Expectations for commercial rents continue to fall
6 May 2011
Expectations for commercial property rents fell for the 14th consecutive quarter in Q1 2011, the latest Royal Institution of Chartered Surveyors UK Commercial Market Survey shows.
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Forbearance being used to hide arrears, says FSA
9 May 2011
The Financial Services Authority has accused lenders of using unnecessary forbearance measures in a bid to hide the true condition of their mortgage books.
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FOS sees drop in mortgage complaints
18 May 2011
The Financial Ombudsman Service saw a fall in mortgage-related complaints last year.
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Four convicted of £1m mortgage fraud
9 May 2011
Four West Yorkshire men and women have been convicted of mortgage frauds worth over £1m.
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Friends Life appoints Andy Briggs as CEO
24 May 2011
Friends Provident Holdings has announced that Andy Briggs is to take up the role of chief executive officer of Friends Life on June 1.
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FSA calls on firms to improve arrears reporting
4 May 2011
The Financial Services Authority has called on lenders to improve their reporting of borrowers entering into arrears.
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FSA cancels firm's permissions
3 May 2011
The Financial Services Authority has cancelled the permissions of Birmingham based brokerage Solomon Lloyd for failing to pay fees of £1,491.68 to the regulator.
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FSA fines Bank of Scotland £3.5m
25 May 2011
The Financial Services Authority has fined Bank of Scotland £3.5m for the mishandling of complaints about retail investment products – many from older customers with little or no experience of investment products.
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FSA investigates network for compliance practices
31 May 2011
The Financial Services Authority has revealed that it is investigating a network for having poor compliance practices.
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FSA toughens up consumer complaint handling rules
27 May 2011
The Financial Services Authority has confirmed changes to consumer complaints handing rules as part of a package of measures to improve standards in the industry.
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FSA warns over mortgage brokerage
9 May 2011
The Financial Services Authority is warning investors against dealing with Munir Mughal, trading as Mortgage Bureau (UK) Hayes.
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FSA welcomes independent review for RBS report
5 May 2011
The Financial Services Authority has welcomed the statement from Andrew Tyrie, chairman of the Treasury Select Committee that it has asked David Walker and Bill Knight to conduct an independent review of the report which the FSA is producing into the failure of Royal Bank of Scotland.
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FSA’s MMR proposals are inadequate, says think tank
31 May 2011
The Financial Services Authority’s Mortgage Market Review does not go far enough in regulating the mortgage market, says a study out today by the Institute for Public Policy Research.
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Gross mortgage lending drops 14% in April
20 May 2011
Gross mortgage lending declined to an estimated £9.8bn in April, down 14% from £11.4bn in March and 5% from £10.3bn in April 2010, show the latest figures from the Council of Mortgage Lenders.
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Halifax Intermediaries reduces mortgage rates
13 May 2011
Halifax Intermediaries has reduced rates on a number of its two-year fixed rate mortgage products.
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Halifax puts further restrictions on interest-only
24 May 2011
Halifax Intermediaries will now require evidence of the repayment plan for all borrowers taking out an interest-only mortgage before they proceed to offer stage.
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Halifax removes interest-only premium and ups maximum loan size
27 May 2011
Halifax Intermediaries has removed interest-only rate premiums, creating a single rate range for both interest-only and repayment mortgages
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HML launches complaints handling service for PPI claims
23 May 2011
HML has launched a specialist complaints handling service to help companies deal with complaints about the mis-selling of payment protection insurance after the British Banking Association abandoned its high court appeal against the Financial Services Authority.
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HML to make 113 redundancies
12 May 2011
HML is to close its Padiham office and make 113 staff redundant.
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House builder Barratt sees improved sales
11 May 2011
House builder Barratt Developments says it is on track to deliver a substantial improvement in operating profit in both the second half and the full financial year.
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House prices down 3.7% year-on-year in April
9 May 2011
The average UK house price fell by 3.7% year-on-year in April to reach £160,395, the Halifax House Price Index shows.
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House prices fall by 0.2% in April
4 May 2011
The average house price fell by 0.2% in April to reach £165,609, according to Nationwide’s monthly house price index.
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House prices increase 0.8% in April
31 May 2011
The April data from Land Registry’s House Price Index shows an increase of 0.8% in house prices in April, compared to March, taking the average property price to £163,083.
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House prices predicted to fall by 4.5% this year
5 May 2011
House prices will fall by 4.5% in real terms this year, a think tank has predicted.
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House prices rise by 0.3% in May
27 May 2011
The average house price increased by 0.3% in May compared to the previous month to reach £167,208, the Nationwide House Price Index shows.
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House prices to increase 16% by 2015
31 May 2011
Cebr’s new forecast for house prices shows a 1.4% fall in 2011 but then a recovery that will generate a four year rise in prices of 16% between 2011 and 2015.
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House sales up 4.7% in May
27 May 2011
House sales increased by 4.7% in May compared to the previous month to reach the highest level seen since May last year, the latest Agency Express Property Activity Index shows.
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HSBC profits fall 14% in Q1
9 May 2011
HSBC’s profits fell in Q1 2011 after it set aside £269m for mis-sold payment protection insurance claims.
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Immature FSA ruining the market, warns MP
16 May 2011
Labour MP George Mudie has dubbed the Financial Services Authority insecure and immature and claimed its Mortgage Market Review is damaging the housing market.
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Inflation could hit 5% this year
11 May 2011
Mervyn King, the governor of the Bank of England, has warned if utility prices rise further later in the year, inflation will reach 5%.
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Inflation hits 4.5% in April
17 May 2011
The UK Consumer Prices Index annual rate of inflation hit 4.5% in April, up from 4% in March, show the latest figures from the Office of National Statistics.
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Ingard adds Precise to lender panel
4 May 2011
Essex-based AR network Ingard has added Precise Mortgages to its lender panel.
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Interest rates kept on hold at 0.5%
5 May 2011
The Bank of England’s Monetary Policy Committee has today voted to keep the base rate on hold at 0.5%.
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Jump Money planning launch into equity release
18 May 2011
Jump Money is planning to launch into the equity release market, the financial adviser firm has announced.
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L&G appoints new sales development manager for the South
31 May 2011
Legal & General has appointed a new sales development manager to join the Mortgage Club to cover the South.
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L&G Mortgage Club offers Kensington 90% LTV deals
9 May 2011
Kensington has launched a limited tranche of 90% LTV mortgages available through Legal & General Mortgage Club to first-time buyers and subsequent purchasers.
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L&G sees 20% increase in new business
4 May 2011
Legal & General has reported a 18% growth in net cash generation and 12% growth in new business volumes for Q1 2011.
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Lack of supply reducing housing affordability in EU markets
3 May 2011
Housing supply has been unresponsive to demand in most EU markets, says Christophe Andre of the Organisation for Economic Co-operation and Development.
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Leeds BS cuts rate on buy-to-let deal
6 May 2011
Leeds Building Society has reduced the rate on its two-year discount buy-to-let mortgage from 4.44% to 4.29%.
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Leeds BS launches five-year fix at 4.39%
25 May 2011
Leeds Building Society has launched a five-year fixed rate mortgage available up to 80% LTV at 4.39%.
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Leeds Building Society joins calls for Northern Rock re-mutualisation
5 May 2011
Leeds Building Society has joined the chorus calling for Northern Rock to be remutualised when it comes out of state ownership.
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Leeds reduces two-year discount rate
5 May 2011
Leeds Building Society has reduced the rate on its two-year discount mortgage to 3.05%, down from 3.20%.
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Lloyds group appoints insurance chief to head Scottish Widows
24 May 2011
Lloyds Banking Group has appointed Toby Strauss as group director for insurance, dampening expectations that it is to put Scottish Widows up for sale.
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Lloyds reports loss after setting aside £3.2bn for PPI complaints
5 May 2011
Lloyds Banking Group has reported a loss of £3.47bn for Q1 2011, after making a £3.2bn provision for potential mis-selling claims for Payment Protection Insurance.
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Management buyout at Savills Private Finance
3 May 2011
Savills has revealed today that it has completed the sale of a majority interest - 80.01% in Savills Private Finance to the SPF senior management team.
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MBE 2011: Bridging demand outstripping supply
20 May 2011
The demand for bridging is continuing to outstrip supply, according to Laurence Goodman, managing director at Bridgebank Capital.
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MBE 2011: Bridging firms will need to be regulated
20 May 2011
Robert Sinclair, director of the Association of Mortgage Intermediaries, says bridging lenders and those offering buy-to-let will need to be regulated under the European mortgage directive.
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MBE 2011: Sub-prime still a dirty word
20 May 2011
The sub-prime market is still a long way off from seeing a resurgence, according to Jonathan Cornell, head of communications at First Action Finance.
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MBE 2011:Low demand to blame for low lending volumes
20 May 2011
Low mortgage lending levels are a result of a lack of consumer demand rather than lenders’ low appetites, according to Alan Cleary, managing director at Precise Mortgages.
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Mervyn King warns against rate rise
3 May 2011
A long-term rise in interest rates could have severe consequences for the economy, Mervyn King, governor at the Bank of England, has warned.
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MEX notches up £85.8m profit as arrears reduce
31 May 2011
Mortgage Express, part of Bradford & Bingley which was taken into public ownership in 2008, has reported a post-tax profit of £85.8m in 2010 compared with a £94.9m loss in 2009.
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MI links with Countrywide Conveyancing for exclusive BM deal
31 May 2011
To coincide with the four-day BM Solutions buy-to-let remortgage products, Mortgage Intelligence and Mortgage Next will have exclusive access to a special deal through Countrywide Conveyancing Services.
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Million-pound home sales up 54% in 2010
3 May 2011
The number of million-pound property sales increased by 54% in 2010 compared to 2009, according to research by Lloyds TSB.
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Moody's puts 14 UK lenders on review for possible downgrade
24 May 2011
Moody’s Investors Service has today announced that it is reviewing the ratings of 14 UK banks and building societies for possible downgrade.
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Mortgage approvals by mutuals up 29% in March
4 May 2011
Mutuals approved £2.1bn worth of mortgages in March, which is up by 29% on the £1.7bn approved in both March 2010 and in February 2011.
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Mortgage approvals up marginally in March
4 May 2011
The number of mortgage approvals for house purchase increased slightly in March to reach 47,557, data from the Bank of England shows.
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Mortgage lenders should be more responsible, say FTBs
26 May 2011
Some 75% of first-time buyers believe banks must lend responsibly despite the fact it will stop some people getting a mortgage, a new survey by Shelter reveals today.
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Mortgage Rescue Scheme missed targets, says NAO
26 May 2011
The government’s Mortgage Rescue Scheme helped fewer than half the number of people avoid repossession that it planned to, according to a damning report by the National Audit Office.
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Mortgage Strategy editor scoops top journalism award
12 May 2011
Mortgage Strategy emerged a winner at the prestigious Headlinemoney Awards at the London Hilton hotel in Park Lane last night.
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Mortgage Trust launches new range of buy-to-let deals
31 May 2011
Mortgage Trust has launched six new products available exclusively via intermediaries for purchase and remortgage, and include tracker rates starting from 4.30% and fixed rates starting from 4.89%.
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Mutuals dominate shortlist for most trusted mortgage provider
6 May 2011
Building societies have dominated a shortlist of the most trusted mortgage providers in the UK compiled by Moneywise.
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N&P cuts rates on 85% LTV deals by 0.3%
12 May 2011
Norwich & Peterborough Building Society reducing rates by up to 0.3% on its range of 85% LTV fixed rate mortgages.
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N&P launches 90% LTV deals
18 May 2011
Norwich and Peterborough Building Society is launching two new 90% LTV mortgages and increasing the maximum LTV it is prepared to lend on self-build and new-build houses from 75% to 80%.
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Nationwide chops product fees by £500
5 May 2011
Nationwide has cut mortgage rates by up to 1% on its direct only 90 and 95% LTV deals and reduced its product fee by £500 for those who are moving home – effectively a 50% reduction
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Nationwide claims 9.5% mortgage market share
25 May 2011
Nationwide Building Society has reported a pre-tax profit of £317m for the year ending April 4 2010, down on £341m in the previous year.
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Nationwide offers account holders 95% LTV mortgage
4 May 2011
Nationwide is to launch Save to Buy - an account for first-time buyers to save regularly towards their deposit that also enables them to apply for a 95% LTV mortgage.
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Nationwide reduces tracker mortgage rates
16 May 2011
Nationwide is to reduce rates on its two and three-year tracker mortgages by up to 0.20% from tomorrow.
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New sellers’ asking prices close to three-year high in May
16 May 2011
New property sellers’ average asking price rose to £238,874 in May, close to a three-year high, according to Rightmove’s House Price Index.
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Newcastle BS launches fixed rate deals via intermediaries
26 May 2011
Newcastle Building Society has expanded its mortgage range for intermediaries by launching a number of fixed rate deals.
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No change in MPC members voting for rate hike
18 May 2011
Three members of the Monetary Policy Committee voted for a rate rise in May, the same number as April, the minutes of the meeting show.
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Northern Rock cuts residential and B2L rates
27 May 2011
Northern Rock has reduced rates by up to 0.50% on a number of its residential and buy-to-let mortgage products.
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Northern Rock launches Freedom to Fix mortgage range
16 May 2011
Northern Rock has launched a range of tracker mortgages that allow consumers to switch to a fixed rate, as well as reduced rates on existing products.
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Northern Rock offers 90% LTV deals to brokers
4 May 2011
Northern Rock is making its 90% LTV purchase products available to all approved intermediaries from today.
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Norwich & Peterborough returns to B2L lending
12 May 2011
Norwich & Peterborough Building Society has returned to the buy-to-let market with a limited tranche of funding.
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Number of mortgage products up 13% in April
5 May 2011
The number of mortgage products available increased by 13% in April to reach its highest point since September 2008, Mortgage Brain’s latest Monthly Product Analysis shows.
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Oakwood launches loan origination platform
27 May 2011
Mortgage servicer Oakwood Global Finance is launching a loan origination platform in partnership with Phoebus Software.
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OFT explains Mortgage Brain merger decision
3 May 2011
Full details of the Office of Fair Trading’s decision to refer the acquisition of Mortgage Brain and TrigoldCrystal to the Competition Commission have been published.
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Openwork links up with OCC Finance Technologies
24 May 2011
Openwork has agreed a tie in with OCC Finance Technologies to promote estate agency lead generation software Intellicalc and lead and mortgage application tracking system Apptrack.
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Paradigm adds Aviva to equity release panel
26 May 2011
Paradigm Mortgage Services had added Aviva to its preferred panel of equity release providers.
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Paradigm adds Lloyds TSB Scotland Spearhead to panel
9 May 2011
Paradigm Mortgage Services has added Lloyds TSB Scotland Spearhead Mortgages to the lender panel of Paradigm Financial Advisers.
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Paradigm links up with Borro
23 May 2011
Paradigm Mortgage Services has teamed up with short-term asset lender Borro to allow its member firms access to Borro’s Introducer programme.
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Paradigm warns on saving account related mortgages
5 May 2011
Paradigm Mortgage Services has urged mortgage brokers to inform and educate their potential first-time buyer client base about current and saving account-related mortgages and whether they truly represent the most suitable option for their needs.
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Paragon reports £39.5m pre-tax profit
24 May 2011
The Paragon Group of Companies has announced a £39.5m pre-tax profit for the six months ended March 31 2011.
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Personal insolvencies down 16% in Q1
6 May 2011
The number of individual insolvencies in Q1 2011 fell by 15.5% compared to Q1 2010, figures from The Insolvency Service show.
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Personal Touch adds ING Direct to lender panel
19 May 2011
Personal Touch has added ING Direct to its panel, allowing brokers within its community to access the lender’s products with immediate effect.
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Personal Touch launches remortgage campaign
19 May 2011
Personal Touch has launched a ‘confident to remortgage’ campaign in conjunction with lenders that aims to give consumers access to the best deals in remortgaging.
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Phoebus appoints new director of sales
9 May 2011
Phoebus Software has appointed Richard Pike as director of sales.
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Platform increases distribution of tracker mortgages
19 May 2011
Platform has made two of its tracker mortgages available to a wider range of intermediary networks and brokerages.
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PMS appoints two intermediary development managers
12 May 2011
PMS has appointed two new intermediary development managers with the aim of increasing its face-to-face support for advisers.
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PMS breaks £250bn barrier for mortgage business
24 May 2011
Mortgage club PMS has broken the £250bn barrier for completed mortgage business since its inception in November 1996.
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Police urges industry to fund anti-fraud division
3 May 2011
The police and mortgage lenders are in discussions about setting up an industry-funded police unit to investigate mortgage fraud.
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Popularity of fixed rates fell sharply in April
25 May 2011
The popularity of fixed rate mortgage products declined significantly in April, the latest John Charcol Mortgage Index shows.
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PPI broker goes into administration
25 May 2011
An insurance broker whose main focus was providing payment protection insurance has gone into administration.
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Precise adds AToM to distribution panel
5 May 2011
Precise Mortgages has appointed All Types of Mortgages to its distribution panel.
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Precise enters short-term loans market
19 May 2011
Precise Mortgages has confirmed it will shortly be launching into the short-term loans market.
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Precise launches broker incentive
13 May 2011
Precise Mortgages has announced it will be giving away gifts to brokers and their customers in an incentive called The Big Give Away.
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Precise launches three short-term lending products
23 May 2011
Precise Mortgages has today launched its short-term lending range, which consists of three products.
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Precise pays broker’s mortgage for a year
16 May 2011
Precise Mortgages is to pay the mortgage of James Summerlin of APH Financial Management Services for a year after the broker won a prize draw.
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PruProtect’s income up 15% in Q1 2011
23 May 2011
PruProtect has announced its annual premium income activated in Q1 2011 increased by 15% compared to Q1 2010 to reach £6.1m.
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Quick attempts to reduce inflation risk volatile outcome, says MPC
17 May 2011
The Bank of England’s Monetary Policy Committee is focussed on meeting its 2% CPI inflation target in the medium term, rather than the short term, says Bank of England governor Mervyn King.
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RBS increases gross mortgage market share to 14%
6 May 2011
Royal Bank of Scotland has reported losses of £528m for Q1 2011, but an increase in its gross mortgage market share to 14%, compared to Q4 2010.
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RBS targeted in US probe into banks’ mortgage practices
24 May 2011
The Royal Bank of Scotland is now being targeted in an expanded probe into mortgage practices at banks by the New York state attorney-general, as are UBS, JPMorgan Chase and Deutsche Bank, according to people familiar with the matter.
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Remortgage activity increased in Q1
13 May 2011
Remortgaging accounted for 37% of all lending in Q1 2011, up from 30% in Q4 2010, data from the Council of Mortgage Lenders shows.
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Repayment mortgages at record high
11 May 2011
Some 77% of residential mortgages introduced during Q1 2011 were capital repayment mortgages - the highest proportion since 1996, shows Paragon Mortgages’ Financial Adviser Confidence Tracking Index.
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Repossessions up 15% in Q1 2011
12 May 2011
The number of repossessions increased by 15% in Q1 2011 compared to Q4 2010, figures from the Council of Mortgage Lenders show.
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Residential valuations up 24% year-on-year in April
10 May 2011
There were 24% more residential mortgage valuations in April 2011 than in April 2010, according to Connells Survey and Valuation.
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Santander UK issues £3.75bn securitisation
19 May 2011
Santander UK has launched the largest publicly placed UK residential mortgage-backed securitisation since 2007 with a £3.75bn deal.
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Sants: PRA will build on FSA’s post-crisis approach
19 May 2011
The Prudential Regulation Authority will take a similarly hard line to the Financial Services Authority in supervising financial institutions when the FSA is disbanded in 2012.
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Scottish Widows launches fixed rate deals
24 May 2011
Scottish Widows is launching a number of new fixed rate mortgage products, as well as making changes to its existing range.
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Second charge repossessions down 25.6% in Q1
12 May 2011
Repossessions for second charge mortgages were down by 25.6% in Q1 2011, compared with Q1 2010, show figures released today by the Finance & Leasing Association.
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Sesame adopts All New MortgageBrain
10 May 2011
Sesame has chosen Mortgage Brain’s latest sourcing system as one of its preferred mortgage technology solutions.
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Skipton BS appoints chairman
24 May 2011
Skipton Building Society has today appointed Mike Ellis as its new chairman.
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Skipton launches 95% LTV deal
4 May 2011
Skipton Building Society has launched a 95% LTV mortgage deal that is available via selected intermediaries as well as direct.
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Skipton launches B2L range up to 70% LTV
10 May 2011
Skipton Building Society has enhanced its range of buy-to-let mortgages with a number of new products available up to 70% LTV.
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SMS joins Precise Mortgages panel
10 May 2011
Solent Mortgage Services, has been appointed to the panel of residential and buy-to-let mortgage lender, Precise Mortgages.
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Supply of property increased in April
10 May 2011
Supply of property increased during April, as sellers returned to test the spring housing market, the latest UK Housing Market survey from the Royal Institution of Chartered Surveyors shows.
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Target Group one of The Sunday Times fastest growing firms
11 May 2011
Financial services software and outsourcing provider, Target Group, has secured a debut ranking at 30 in the 2011 Sunday Times HSBC International Track 100 league table of private companies with the fastest-growing international sales in the last three years.
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TBMC launches 80% LTV exclusive with Chorley BS
4 May 2011
TBMC has launched an 80% LTV buy-to-let deal exclusively with Chorley Building Society.
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TBMC launches exclusive with Hinckley & Rugby BS
10 May 2011
TBMC has launched an exclusive buy-to-let mortgage product with Hinckley & Rugby Building Society.
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Teachers BS launches via brokers
26 May 2011
Teachers Building Society has opened its mortgage business to the intermediary sector and chosen Mortgage Intelligence as its distributor for the launch.
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Tell us what you think and win a case of fine wine
23 May 2011
Hundreds of brokers have given us their views on the near-prime sector in our online poll.
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The Buy to Let Business acquires The Good Mortgage Company
5 May 2011
The Buy to Let Business has today revealed that it has bought out The Good Mortgage Company from administration.
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The West Brom reports pre-tax loss of £13.1m
26 May 2011
West Brom Building Society has reported a pre-tax loss of £13.1m for year ended March 31 2011, compared to £18.5m loss in the same period last year.
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Tiuta pulls out of regulated business
26 May 2011
Tiuta has announced it is to pull out of regulated business and focus solely on its core bridging activities.
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Tiuta takes on two new recruits as more staff leave
16 May 2011
Tiuta has appointed two new staff to its business development team as its head of operations and redemptions manager decide to leave the firm.
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TMA offers brokers client-facing comparison site
17 May 2011
The Mortgage Alliance has teamed up with QuickQuote4u.com to offer directly authorised intermediaries the ability to create a client-facing comparison website.
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TMW cuts rates and launches five-year fix
25 May 2011
The Mortgage Works is reducing rates on a number of its mortgage products and launching a five-year fixed rate deal at 4.99% available up to 50% LTV.
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Towergate Financial appoints new director of marketing
3 May 2011
Towergate Financial, which incorporates mortgage broker John Charcol, has appointed Drew Wotherspoon as director of marketing and communications.
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Two FSA decision notices referred to tribunal
12 May 2011
The Financial Services Authority has for the first time published two decision notices for enforcement decisions that have been referred to the Upper Tribunal.
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Two-thirds of 20 to 45 year-olds have given up on home ownership
31 May 2011
Two-thirds, 64%, of non-homeowners believe they have no prospect whatsoever of buying a home, according to a new report.
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Unemployment falls by 36,000
18 May 2011
The total number of unemployed people fell by 36,000 in the three months to March to reach 2.46 million.
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Warnings on arrears are coming thick and fast
11 May 2011
Mortgage lenders like to tell everyone how low they have kept arrears and repossession figures during the last few years.
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WLB chooses xit2 to manage commercial valuations
3 May 2011
Whiteaway Laidlaw Bank has chosen xit2 to manage its commercial valuations.
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xit2’s parent company reveals new brand
18 May 2011
xit2’s parent company, formerly the Property Information Division of MDA Corporation, has announced it is uniting its nine companies under a new global brand.
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Yorkshire BS calls for re-mutualisation of Northern Rock
5 May 2011
Yorkshire Building Society has called for Northern Rock to be re-mutualised, claiming this would help improve competition in the banking industry.
